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  • #12914
    Profile photo of tweva
    tweva
    Survivalist
    rreallife

    From Bloomber via Bill Bonner….and ugly snapshot:

    ‘ The Internal Revenue Service collected $5.7 billion in 2011 from penalties, meaning that Americans took out about $57 billion from retirement funds before they were supposed to.

    The median size of a 401(k) is $24,400 as of March 31, with people older than 55 having $65,300, according to Fidelity Investments.

    Adjusted for inflation, the government collects 37% more money from early-withdrawal penalties than it did in 2003. Meanwhile, the amount of home-equity loans outstanding was $704 billion in 2013, down 38% from the 2007 peak, according to Federal Reserve data.’

    #12925
    Profile photo of 74
    74
    Survivalist
    rnews
    #12977
    Profile photo of freedom
    freedom
    Survivalist
    rnews

    They are running low on cash to pay the bills or out of a job. They are not think of retirement, just how to pay the bills that are coming in today. It looks real bad for them.

    #13011
    Profile photo of tweva
    tweva
    Survivalist
    rreallife

    Yes, very sad state of affairs right

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